Counting different parts of inventory at different times of the year is called
A)LIFO inventory.
B)inventory cutoff.
C)cycle counting.
D)just-in-time inventory.

Question

Quizplus · Accepted Answer

Cycle counting is the process of counting different parts of inventory at different times of the year instead of performing a complete physical inventory count at the end of the year. It helps in minimizing disruptions to ongoing operations and provides more accurate inventory levels throughout the year. LIFO inventory is a method of valuing inventory, inventory cutoff refers to the end of the accounting period, and just-in-time inventory is a system of inventory management based on timely delivery and minimal stock.

Counting Different Parts of Inventory at Different Times of the Year